Last checked at 31 Mar 2017 10:42
C4X Discovery Holdings plc
("C4XD" or the "Company")
Result of General Meetingand
Issue of Equity
31 March 2017 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering drug discovery company, today announces that, at the General Meeting held earlier today in respect of its £7.0m Placing at a Placing Price of 85 pence per new Ordinary Share, which was announced to the market on 14 March 2017, all the resolutions put to shareholders were duly passed.
Application has been made for the 8,235,294 Placing Shares to be admitted to trading on AIM and it is expected that Admission will take place at 8.00 a.m. on 3 April 2017. The Placing Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, the Company's issued share capital will consist of 45,634,012 Ordinary Shares. There are no Ordinary Shares held in treasury. Therefore, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that following Admission, the total number of voting rights in the Company will be 45,634,012.
The capitalised terms used in this announcement have the meaning as defined in the announcement published by the Company at 7.00 a.m. on 14 March 2017 unless otherwise stated.
For further information, please contact:
C4X Discovery Holdings plc
Clive Dix, Chief Executive Officer 07801 865 803
Panmure Gordon (UK) Limited (NOMAD) 020 7886 2500
Freddy Crossley, Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Consilium Strategic Communications
Mary-Jane Elliott, Matthew Neal, Melissa Gardiner 0203 709 5700
About C4X Discovery
C4X Discovery aims to become the world's most productive drug discovery engine by exploiting cutting edge technologies to design and create best-in-class small-molecule candidates targeting a range of high value therapeutic areas. The company's goal is to drive returns through early-stage revenue-generating deals with the pharmaceutical industry.
C4X Discovery has a state-of-the-art suite of proprietary technologies across the drug discovery process. The company's innovative DNA-based target identification platform (Taxonomy3®) utilises human genetic datasets to identify novel patient-specific targets leading to greater discovery productivity and increased probability of clinical success. This is complemented by C4XD's novel drug design platform which comprises two innovative chemistry technologies, Conformetrix and Molplex, that combine 4D molecular shape analyses (based on experimental data) with best-in-class computational chemistry. This provides new and unprecedented insight into the behaviour of drug molecules, enabling the production of potent selective compounds faster and more cost effectively than the industry standard.
C4X Discovery is advancing its in-house pipeline in addiction, diabetes and inflammation with a number of new drug candidates identified and further progress made towards the clinic. In selecting new targets C4X Discovery will focus on the high-value disease areas of inflammation and neurodegeneration, and will continue to maximise value from opportunistic areas, for example, immuno-oncology.
The Company was founded as a spin-out from the University of Manchester. It has a highly experienced management team and Board who have delivered significant value creation within the healthcare sector historically and have enabled C4XD to reach multiple value inflexion points since IPO. For additional information please go to: www.c4xdiscovery.com
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